Ans : The EMI amount is billed to you each month as per EMI scheme tenure, and will always be a part of Minimum Amount Due ( MAD).

As usual, if you pay anything less than TAD on or before the due date, revolving rate of interest will be applicable . If you pay TAD on or before the due date , no charges or interest will applicable for that billing cycle.

How is P.F & EMI amount levied ?

Ans : A processing fee as per EMI scheme code + Service tax ( 10.36%) will be billed to you in your coming statement. The EMI will be billed in subsequent statements .

What is foreclosure amount ?

Ans : There is no foreclosure fees which will be charged, if you want to foreclose a running EMI. But you will have to call our 24-hour Customer Care and request for foreclosure. This is the standard procedure followed.

What happens when I foreclose ? What happens to the pending EMI’s ?

Ans : Let’s assume that you have 3 EMI’s of Rs 2000 pending and you call to foreclose. In this scenario, when the cm receives his next credit card bill, the balance EMI’s totalling to Rs 6000/- will be billed to you as a part of TAD.